Economist Henrik Zeberg predicts that Bitcoin (BTC) could reach $111,000 by August based on a technical indicator.
RSI Indicator Points to Bullish Trend
Zeberg analyzed Bitcoin’s monthly Relative Strength Index (RSI), which measures momentum. When the RSI exceeds 70, it has historically signaled a parabolic phase for Bitcoin. Currently, the RSI is at 71.
Potential for Further Growth
Zeberg believes that Bitcoin could potentially hit even higher prices, possibly exceeding $200,000. However, he sets a more conservative target of $110,000 to $115,000.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading at $66,115. Zeberg advises investors to conduct their own research before making any investment decisions.
